Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
🤔 @MikeLempres says he didn’t believe in Operation Choke Point 2.0 at first. But now? No doubt ❌ Was Silvergate’s collapse coordinated? 🕵️ 🎧 Listen now: https://t.co/vTC3gPEXxL https://t.co/xsQwK7EeFM
In a January 2024 interview, Rodney Hood dismissed "apopleptic" commentary from banks on credit unions, and suggested that this was being driven by bank trade groups that, perhaps, charge "exorbitant" dues https://t.co/WIow6pmfIs https://t.co/1BAuRcXAoJ https://t.co/iXbZ4vQS6U
Great episode from @nic__carter and the former chairman of Silvergate Bank @MikeLempres. I spoke with Mike on Tuesday and the thing that stuck with me the most from our conversation is that the demise of Silvergate, which caused the debanking of 1700 customers and 500 employee… https://t.co/c0WtXhuMLv
Former Silvergate Bank chairman Mike Lempres has claimed that political decisions led to the bank's collapse, which resulted in the loss of 500 jobs and the debanking of 1,700 cryptocurrency firms. In a recent podcast, Lempres discussed how regulatory changes made it impossible for Silvergate to operate, noting that regulators imposed a limit of 15% crypto exposure for banks, while Silvergate was at 100%. He suggested that this regulatory environment effectively forced the bank into liquidation. Lempres also raised concerns about potential coordination between short sellers and politicians in the bank's downfall, indicating a belief in what he referred to as 'Operation Choke Point 2.0'.